Traditional Culture Encyclopedia - Weather forecast - What are the basic terms of the weather futures contract?

What are the basic terms of the weather futures contract?

1, contract value. The nominal value of CME's HDD and CDD futures contracts is 100 times that of HDD or CDD index, and the contracts are quoted at the index point of HDD/CDD. 2. Contract month. At any trading time, there are 7 consecutive HDD and CDD futures contracts and 5 consecutive HDD and CDD option contracts listed and traded. 3. reconciliation. The settlement price of the monthly contract is based on the HDD and CDD indexes calculated by Earth Satellite Co., Ltd. 4. Trading system. Hard disk and CDD futures are traded 24 hours a day through CME's GLOBEX electronic trading system. 5. Source of data. The data comes from Earth Satellite Company Limited. Earth Satellite Co., Ltd. is a global professional service company that develops remote sensing equipment and provides geographic information, which can provide daily and hourly atmospheric low pressure information. The company is a world leader in providing climate information for agriculture and energy markets.